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TREAS/IRS RIN: 1545-BC94 Publication ID: Fall 2023 
Title: Guidance Regarding the Active Trade or Business Requirement Under Section 355(b) 

The rulemaking will provide guidance regarding the active trade or business requirement under section 355(b). Specifically, with regard to the satisfaction of that requirement, these proposed regulations will provide additional guidance for determining whether the distributing corporation and controlled corporation each (i) carried out an active trade or business throughout the statutorily required five-year period ending on the distribution date, and (ii) are engaged, immediately after the distribution, in the active conduct of a trade or business.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 1.355-3   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 355(b)(3)(D)   
Legal Deadline:  None
Action Date FR Cite
NPRM  05/08/2007  72 FR 26012   
NPRM Comment Period End  08/06/2007    
Second NPRM  12/00/2023 
Additional Information: REG-123365-03 (NPRM-second) Drafter attorney: Aglaia Ovtchinnikova (202) 317-6975 Reviewer attorney: Austin Diamond-Jones (202) 317-6848 Treasury attorney: Colin Campbell (202) 622-2297 CC:CORP
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BL85 
Agency Contact:
Aglaia Ovtchinnikova
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-6975